Former broker from The Oak Ridge Financial Services Group of Golden Valley, Minnesota, Phillip Hinze, Fined and Suspended by FINRA

Soreide Law Group obtained the following from FINRA’s Disciplinary Report of May 2017:

PHILLIP RUSSELL HINZE (CRD #4494915, Mendota Heights, Minnesota)
was assessed a deferred fine of $5,000 and suspended from association with any FINRA member for one month for allegedly placing four orders over a one-week period to buy securities for a client without her authorization.
FINRA’s findings stated that allegedly, Hinze entered an order for one of his clients to buy 100 shares of an exchange-traded fund. Hinze then allegedly entered orders for the same client to buy 260 shares of each of two other exchange-traded funds and 210 shares of a fourth exchange-traded fund. The client did not authorize any of the purchases.
FINRA’s findings stated that the client promptly complained to Hinze’s member firm, which cancelled the trades and terminated Hinze’s employment.
The suspension was in effect from March 20, 2017, through April 19, 2017.
(FINRA Case #2016051594901)
According to FINRA’s BrokerCheck, Phillip Hinze has 2 Disclosures on his report. Hinze has been in the securities industry for 14 years and has been listed with 2 firms:
03/24/2014 - 10/05/2016  THE OAK RIDGE FINANCIAL SERVICES GROUP INC - GOLDEN VALLEY, MN
03/14/2002 - 04/07/2014  RBC CAPITAL MARKETS LLC - SHOREVIEW, MN
If you were a client of the former Golden Valley, Minnesota, Oak Ridge Financial Services Group broker, Phillip Hinze, and experienced losses due to his actions, recommendations or lack of supervision by his member firm, contact Soreide Law Group for a no-cost consultation by an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationwide before FINRA and we operate on a contingency fee basis.  Let our experience work for you.